Avoid loan sharks, leverage on microfinance banks, Emefiele tells Nigerians | TheCable

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Avoid loan sharks, leverage on microfinance banks, Emefiele tells Nigerians via thecableng

January 25, 2022 5:36 PM

The CBN governor explained that those who go to collect loans from places other than microfinance banks or recognised institutions are at bigger risk.“There is no need for you to go to loan sharks for a loan. People normally go to loan sharks because they are desperate and can’t access the bank,” Emefiele said.

“We can only continue to advise that there is no need to go for loan sharks. The central bank has put in place the avenue through which you can raise your finance, like through the target credit facility or the SMEs loan that was set up through our microfinance banks.“You don’t have to owe anybody, just go to the portal and fill the form, send your data, and if it’s correct, you will be able to access loans.

 

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CBN governor without primary economic understanding

Sage advice

We all know that clueless genius. Have you seen what you and your employers have turned the economy into?

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